[150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global advanced battery market was valued at around USD 74.13 billion in 2021 and is expected to register revenues worth USD 168.13 billion by the end of 2030, growing at an exceptional CAGR of approximately 8.53% between 2021 and 2030.
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Advanced Battery Market Growth Factors:
Advanced batteries market is predicted to observe vigorous growth during years to come due to, intensifying emphasis on clean energy practice, increasing adoption of electric vehicles and refining economics of battery storage system. Further, development in electric vehicles and electronic gadgets are probable to boost the next generation battery market during coming years. However, advanced batteries offer limitations such as high costs, long recharge time, short cycle life span which hampers the market growth.
Upsurge in demand for compacted, economical, and energy effectual batteries in numerous end-use sectors like consumer electronics and electrical vehicles in emerging and established nations is predictable to boost the global advanced battery market throughout the prediction period. Advanced battery is inexpensive and proposes fast charging than traditional batteries.
Such advantages of advanced battery make its acceptance desirable over alternative technologies. Yet, comparative high price of advanced batteries and ambiguous governing frameworks may constraint the market growth. Nonetheless, momentous openings are expected to occur from the electric vehicles industry as numerous manufacturers are producing more lighter, powerful, reliable, durable and inexpensive batteries.
Advanced Battery Market Report Scope
|Market Size||US$ 168.13 Billion by 2030|
|Growth Rate||CAGR of 8.53% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
Advanced Battery Market Report Highlights
- Asia Pacific is slated to flourish to attain noteworthy take in the global advanced batteries market as the prices of advanced batteries are slowly going to decrease
- The growth in the APAC region can be credited to the rising demand from nations such as India, Japan, and China
- North America is projected to expand at a protuberant rate during the estimate period.
- Lithium-Ion Polymer Battery Segment Seized Significant Market Stake in 2020
- Consumer Electronics is Projected to Govern the Advanced Battery Market Revenue
Asia Pacific is expected to display prominent growth prospect on account of economies such as China. The upsurge in battery capacity of China is chiefly done to address the striking demand from the electric vehicle market. Similarly, the local battery suppliers are deliberately intensifying their capacities in proportion with the demand. Furthermore, India is also anticipated to upsurge the local production of lithium-ion batteries.
The India lithium-ion battery market is likely to display a vigorous growth throughout the estimate period, amongst augmented acceptance of EVs, renewable and energy storage initiatives. Several new entrants are also proposing innovative products in the market. Such as Green vision Technologies, startup in India, functions under the brand name Relicell and produces sealed, maintenance-free lead-acid batteries for UPS devices and electronic weighing machines. The U.S. based startup named Ateios manufactures ergonomic, ultra-thin printed flexible silver-oxide batteries for wearables.
Technological progressions including printed, flexible, thin-film batteries needed in wearable devices are anticipated to boost the product sale across the North America. Furthermore, research activities attentive on usage of batteries for plug-in EVs are probable to inspire growth in the regional market.
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter. This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach.
This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
Read Also@ Off-highway Electric Vehicle Market Size to Worth Around US$ 17.5 Bn by 2027
some of the prominent players in the advanced battery market include:
- Pathion Inc.
- PolyPlus Battery Company Inc.
- GS Yuasa Corporation
- Oxis Energy Ltd
- Samsung SDI Co. Ltd.
Advanced Battery Market Segments
- Sodium Sulfur Battery
- Sodium Metal Halide Battery
- Lithium-Ion Polymer Battery
- Advanced Lead Acid Battery
- Smart Nano Battery
- Consumer Electronics
- Automotive Battery
- Energy Storage Systems
- Industrial Battery
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global advanced battery market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the advanced battery market.
The report includes country-wise and region-wise market size for the period 2019-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2030.
Why should you invest in this report?
If you are aiming to enter the global advanced battery market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for advanced battery are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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